Member Info for PI100

On a positive note, in reply to HC, given that performance is so, so bad at an operational level currently, improvements are surely due. I may well be jinxing it but surely £7m revenue is the floor, I mean we were doing 50%+ more than that pre covid. Never say never as it may dry up completely, but this does seem unrealistic. However, when we were £2/3/4 a share, 48 pence seemed unrealistic..

Because there is absolutely no announced plan for the cash. Quarterly sales are now £1.7m so we are still going to be seeing huge losses year on year.

It wasn't an investable company before yesterday and the presentation didn't change that, in fact it probably made it less attractive now the Q1 figures are known.

No problem.

Just listened to it again - sounds very much like the £100m target is a thing of the past. JM very diplomatically saying that it is unachievable nonsense. Sat there with £1.7m Q1 sales I guess it would be a little odd for him to say differently, but it's just an insane 'target'. Complete nonsense.

So I was out by a few percent, oh well. 2% blue is hardly a ringing endorsement is it. Another lost year.

They had to back pedal about the £100m otherwise they'd simply look like total incompetents/liars. It's effectively 3 years as this sub £10m year is a write off. Maybe DA insisted that comment was included previously and was the reason for his sacking!

£1.7m Q1 income. Apologies, I had missed that (has the rns been updated as it wasn’t as detailed when I read it at 7?

So at that rate we’re looking at £6-7m income this year. Long way to go to reach £100m in 3 years. I don’t think chief clown will be repeating that statement today. Maybe £10m within 4 years.

Are we seriously paying them for stuff like this? An intern on £12k a year could produce the same. We’re probably paying them £2k a day.

https://twitter.com/walbrookpr/status/1651500871241416706?s=46&t=Oe3f77RPj4YjkvAH8SGo2Q

The 13% I have left is almost meaningless so literally not worth bothering with. I’m literally staying for the 50/50 coin flip that is the dispute which could double the remaining pittance I have here. Or wipe it out completely. The 13% I have left isn’t worth worrying about if the latter happens.

We were expecting some sort of 2023 update. We are 4 months into the year and still have absolutely no idea what the strategy is, expected sales guidance, no ceo etc.

It was a dreadful rns, softened by the fact we knew most of it already from the previous dreadful rns.

It’s absurd how flippant some people here are about the dispute and think that they can and will just splurge all the cash without a moments thought that the dispute could be lost. It’s literally a noose round their neck. Oh but the company say they have strong grounds etc., well the company also said £100m revenue within the next what is now 4 years, it also set the most ridiculously out of reach LTIP effectively punishing itself so to think that that statement holds any weight is naive at best.

Interesting to know when the ‘right sizing’ was completed - £6m drop in opex is positive but am hoping it was only concluded part way through the year and the annualised figure is a good chunk higher. At least £10m would be handy given the £5-6m revenues.

Results as expected but forward outlook, Chris? Basically none.

Can understand why they haven’t given any 2023 guidance if that’s the sort of contract they’re talking about in one of the most important rns announcements of the year.

Thanks.

3 month wait for THAT. Awful.

Nice, they won the lotto euro millions?

I don’t think I’ll want to post tomorrow, likely be feeling too nauseous.

It’s called ‘jobs for the boys’ neilrich

It’s going to be bleak. Halving of sales will be hammered by the market, but i guess the key is how much cost they have managed to strip out.
Needless to say, tomorrow will be serious red. We’re already well below where we were for most of 2018 and the company did nothing back then. The dispute impact really cannot be understated.

Problem with tomorrow is it is likely that we have someone even less charismatic than DA leading the presentation, and I didn’t think that was possible

I don't know why the LTIP is even being discussed in any serious manner - it is completely and utterly meaningless. Unless another covid happens and no competitors (remember there are now umpteen companies who do what we do in a meaningful way v hardly any before covid) get first mover advantage, there is absolutely no way this can 8/9/10x bag. It's ludicrous to even discuss it. Almost as ludicrous as setting it in the first place (another sign that they have absolutely no idea what they are doing, so much so that they screwed themselves with their incentive plan).

Into the 40’s we go. Relentless and rudderless.

The LTIP was clearly put in place to shut us up for a bit. It’s totally dead now, no chance of achieving it. They’ll probably just give themselves 10-20% pay rises to soften the blow.

Val, the AGM will be online as usual so they can hide behind the screen.